Property Settlements

We understand that separating property and financial assets after a relationship breakdown can be overwhelming. Our experienced family lawyers provide compassionate guidance to help you navigate property settlements, ensuring you reach a fair and equitable outcome. Whether you’ve already reached an agreement or need assistance with litigation, we’re here to help you every step of the way.

Understanding Property Settlements in Family Law

The Family Law Act provides flexibility when it comes to property settlements, allowing couples to reach private agreements or seek court orders. At Sapphire Legal, we work with you to find the best approach for your situation, helping you understand your options and the processes involved.

Are You Considering a Private Property Settlement?

If you and your ex-partner have already reached an agreement, you may not need court approval. However, formalising your settlement through Consent Orders or a Binding Financial Agreement (BFA) offers significant legal advantages. Our team can guide you through the differences between these options and help you choose the best one for your circumstances.

Facing a Property Dispute or Considering Litigation?

If you haven’t been able to reach an agreement, litigation may be necessary. We help you navigate the legal process with confidence, aiming for a just and equitable outcome. Our team will work with you to ensure all financial and non-financial contributions are considered in the final settlement.

Private Property Settlements

You don’t need a court order to settle property matters privately, but formalising your agreement can protect your interests. There are two main options for formalising property settlements:

Consent Orders Support

Consent orders are the most common way used to formalise a private property settlement. They are approved by the court, ensuring the terms are legally enforceable. The court reviews the agreement to confirm it is fair and equitable.
Binding Financial Agreements (BFA)

Unlike Consent Orders, BFAs do not require court approval. These agreements can cover various aspects of the settlement, including superannuation, maintenance, and child support.

Our team can advise on which option is right for your circumstances and help you negotiate terms with your ex- partner. If you have already negotiated a property settlement and simply need help in formalising what has been agreed upon, we offer fixed fee rates for the preparation of private agreements.

Property Litigation

If litigation becomes necessary, it’s important to be aware of the process and potential costs involved. The average cost in Australia of a fully litigated property case starts at $50,000 per party. This is a sobering thought and, in an attempt to reduce the number of disputes in the court, as of 1 September 2021, an Applicant will be required to file a certificate stating that they have made a genuine attempt to settle prior to filing their initiating application (unless an exception exists).

The court follows a four-step staged process to determine a property settlement that is “just and equitable”:

Step 1

Identify and value the assets, liabilities and financial resources of the parties as at the date of hearing;

Step 2

Assess each parties financial, non-financial and welfare contributions to the asset pool;

Step 3

Consider the results of steps 1 – 3 and decide what order, if any, should be made in the circumstances for a “just and equitable” outcome to be achieved.

Step 4

Identify and value the assets, liabilities and financial resources of the parties as at the date of hearing;

The average cost of a fully litigated property case can be substantial, so it’s often beneficial to seek legal advice before beginning this process. Unless you already have ready access to funds, you should attempt to negotiate an advance of funds with your ex-spouse.

If your proposal is rejected, you should think carefully as to whether the expense of an application to the court for an order for interim costs is worth it. The legal costs you incur in trying to obtain such an order will only serve to reduce the size of the asset pool by the amount of your legal bill.

Our property settlement lawyers will help you weigh your options and determine the best course of action for your circumstances.

The Benefits of Seeking Legal Advice Early On

Even if you are considering representing yourself, obtaining legal advice can make a significant difference. At Sapphire Legal, we encourage clients to seek guidance at various stages of the process, helping to avoid potential pitfalls and ensure that your interests are protected.

Clarity and Confidence

Knowing your rights and options can provide peace of mind as you navigate this challenging time.

Protection of Your Interests

By formalising agreements or preparing for litigation, our team works to secure a fair outcome that reflects your contributions and needs.

Practical Advice

We’ll help you understand your options, including the potential costs and benefits of each, so you can make informed decisions.

Contact Us Today for Property Settlement Assistance

If you’re navigating a property settlement in Hornsby, the Upper North Shore, or surrounding areas, we’re here to help. Our family law and property settlement team is ready to provide the support and guidance you need to protect your assets and achieve a fair resolution. Reach out to Sapphire Legal to schedule a consultation.

Property Settlements

Understanding Property Settlements in Family Law

Are You Considering a Private Property Settlement?

Facing a Property Dispute or Considering Litigation?